|Type of paper:||Course work|
|Categories:||Company Strategic management SWOT analysis|
All company needs to have a strategy in the process of planning. SWOT analysis is a valuable tool that facilitates the process of strategic planning. The current position of the company can be ascertained using such strategic methods. The technique, SWOT analysis, is effective in identifying the position of the company in the current market (Gurel & Tat, 2017). Humans are social in nature; everyone wants to communicate with each other regardless of the geological location. In this present era and century, the telecommunication business has grown so vastly that the big investors and the wealthiest people have roots in the telecommunications firm (Tidd, Bessant, 2018).
Technology has played a pivotal role in making sure the telecommunication business remains lucrative and attains the top spot. The world's The United States of America is a hub of many companies that have influence over the globe; is a hub of many companies that have influence over the world some of the telecommunication giants include Verizon. The introduction of fiber optic cables has led to other radio transmission methods and microwave systems to become something of the past. Verizon provides fiber networks, telephony, and wireless connectivity (Babich, 2018). When one gets an opportunity to gain experience from such an advanced company, there is a lot to learn that can help improve some of the various sectors. The following is a strength, weakness, opportunity, and threats analysis of Verizon Inc.
One of the noticeable strengths of Verizon Inc. is its ability to embrace flexibility and being dynamic. In the ever-changing world that experiences time to the time change in technology, companies should try as much as possible to maintain the pace so that they can exist in the market. Verizon Inc. has shown tremendous efforts in keeping with the pace in technology as they have embraced the influence of fiber optics as an advanced method of transmitting communication. Apart from having fiber installation, fast internet is the prayer of any internet user. The company has ensured that the demand for speed is met by having the fourth-generation technology, 4G and this has made it be dubbed as a company with the leading number of subscribers.
Also, the company has installed various infrastructures that would cater to the needs of the clients. These form a massive step in the telecommunication business since a company can save money that would have been used in leasing.
Babich, K. (2018). U.S. Patent No. 9,941,950. Washington, DC: U.S. Patent and Trademark Office. https://patents.google.com/patent/US9941950B2/en
Gurel, E., & Tat, M. (2017). SWOT analysis: A theoretical review. Journal of International Social Research, 10(51). http://sosyalarastirmalar.com/cilt10/sayi51_pdf/6iksisat_kamu_isletme/gurel_emet.pdf
Tidd, J., & Bessant, J. R. (2018). Managing innovation: integrating technological, market and organizational change. John Wiley & Sons. https://books.google.com/books?hl=en&lr=&id=S11nDwAAQBAJ&oi=fnd&pg=PA1&dq=the+wealthiest+people+have+roots+in+the+telecommunications+firm&ots=dXWv8gJ6Nz&sig=rDsm9eCBuPhDgsFnrEkyjV6Hn8k
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